Weekly Wrap: Bitcoin Holds Firm As Stocks Post Losing Week
Bitcoin (CRYPTO: $BTC) has outperformed shares over the previous week despite rising market volatility induced by company earnings and larger oil costs. BTC was trading at $64,115 U.S. on the afternoon of July 24 and mainly flat on the week even as equity markets declined.
The benchmark S&P 500 index was on tempo for a weekly drop of about 1% as crude oil costs rose above $100 U.S. for the first time since late May and amid uneven second-quarter financial outcomes from main firms such as Alphabet (NASDAQ: $GOOGL), Tesla (NASDAQ: $TSLA), and American Express (NYSE: $AXP).
Geopolitical turmoil also continues to weigh on markets as preventing between the U.S. and Iran intensifies and President Donald Trump announced new tariffs on the imports of 60 nations around the world, including new 50% duties on merchandise from neighbouring Canada. Despite pulling back from its high for the week of $66,800 U.S., Bitcoin confirmed some resilience in the face of the present upheaval in the broader market.
More From Cryptoprowl:
Here’s what else occurred with cryptocurrencies over the last 5 days…
Strategy Leaves Bitcoin Holdings Unchanged: Strategy (NASDAQ: $MSTR) left its holdings of Bitcoin unchanged for a second consecutive week as it continues to build-up its money reserves. The world’s largest company proprietor of Bitcoin raised its money reserves by $225 million U.S. over the previous week after promoting some common stock, bolstering its liquidity. Strategy’s U.S. greenback reserves now stand at $3.23 billion U.S. while the company’s Bitcoin stack stays regular at 843,775 BTC value $54.5 billion U.S.
Kalshi Adds Three Million New Users: Prediction market Kalshi said that it added three million new customers during the FIFA World Cup soccer match that concluded on July 19. Kalshi introduced in three million new customers over the course of the match and more than $1.2 billion U.S. was traded on its prediction market during the World Cup, a document for a sports activities betting platform. During the World Cup, Kalshi made several strikes to increase its model, including serving as the “official prediction market sponsor” of the match.
Hut 8 Announces New Data Centre Deal: The stock of Hut 8 (NASDAQ: $HUT) rose 11% on July 20 after the company announced a new artificial intelligence (A.I.) information centre deal. Hut 8 said that it agreed a 15-year $9.8 billion U.S. lease at its Beacon Point information centre campus in Texas. Management at Hut 8 said the new contract comes from an present information centre tenant, which it refused to identify. However, Hut 8 reiterated that the tenant is a high-investment-grade company and that it has doubled its contracted computing capability to 704 megawatts.
Galaxy Digital Moves To Protect Bitcoin: Galaxy Digital (NASDAQ: $GLXY) has established a $5 million U.S. fund to help builders shield Bitcoin from threats posed by quantum computing. Grants administered through the fund will focus on developing quantum-resistant signature schemes, crypto pockets migration instruments, and security audits. Analysts say it is only a matter of time before highly effective quantum computer systems are ready to attack the blockchain of Bitcoin, main to security issues.
Kalshi Opens Betting On U.S. Midterm Elections: Prediction market Kalshi opened betting on the consequence of the U.S. congressional elections happening this November. The midterm elections will determine which political get together, Democrats or Republicans, control the U.S. House of Representatives and Senate. Kalshi is permitting people to guess on the consequence of the elections that are scheduled to take place on Nov. 3.
Crypto Exchange BitMEX Shuts Down: BitMEX, the cryptocurrency exchange that invented perpetual swaps (perps), announced that it is shutting down. The exchange, co-founded by investor Arthur Hayes in 2014, announced that it will stop operations on Sept. 23 of this yr. The resolution to shut down comes after BitMEX lost perpetuals business to competing rivals and a new wave of decentralized derivatives markets that have sprung up in latest years. The wind-down ends an 11-year run for BitMEX.
Goldman Sachs CEO Supports Clarity Act: The Clarity Act laws that goals to regulate cryptocurrencies has gotten a vote of confidence from Goldman Sachs (NYSE: $GS) CEO David Solomon. Solomon has thrown his support behind the crypto invoice despite reservations among many U.S. banks over worries that digital property will intrude on their business. Solomon said the Clarity Act will present much-needed regulatory certainty for cryptocurrencies such as Bitcoin.
Bitcoin Miner Poolin Files For Bankruptcy: Poolin Technology, a Singapore-based company that was one of the world’s largest Bitcoin mining swimming pools, has filed for Chapter 11 chapter safety in the U.S. The chapter submitting comes after Poolin’s Texas Bitcoin mining operations shutdown on July 10 of this yr. The submitting, which seeks to shield Poolin from its collectors, lists estimated money owed of as much as $500 million U.S. versus property of $10 million U.S. In the chapter submitting, Poolin says that its collectors are owed $173.1 million U.S.
Hyperliquid Adds Decentralized Prediction Market: Hyperliquid (CRYPTO: $HYPE) announced plans to add decentralized prediction markets to its platform as it diversifies into new income streams. Going ahead, anyone will be ready to offer a prediction market on Hyperliquid’s platform, subject to approval from validators. The prediction market sector is dominated by Polymarket and Kalshi.
Wrench Attacks Cost Victims $124 Million: Cryptocurrency “wrench attacks” value victims around the world $124 million U.S. in losses over the previous six months, according to blockchain security firm CertiK. Wrench attacks are violent, real-world attacks on people who own cryptocurrencies such as Bitcoin. CertiK verified 52 incidents in which criminals used violence or threats of pressure to get people to hand over their crypto in the first half of 2026. In all, the wrench attacks this yr value victims $124.1 million U.S. in losses. The average quantity of crypto stolen per attack rose to $2.39 million U.S. from $270,000 U.S. a yr in the past.
